The broader crypto market is surging after Bitcoin climbed past $94,000. Altcoins are also reacting to this market momentum, with SUI emerging as one of the strongest performers. The SUI price has gained 23.90% over the past day and is now trading at $2.90. Its trading volume has risen by 162.38%, placing it among the top five gainers today. Technical analysts are now turning their attention to what may come next.
Two separate technical analyses point to a possible breakout continuation for SUI. The first chart, posted by crypto expert Ted, identifies an inverse head and shoulders formation on the daily chart. The neckline, placed at approximately $2.25, was recently breached by a strong green candle that closed near $2.85. This pattern is known for marking a potential trend reversal from bearish to bullish.
Ted noted that the setup was nearing completion and highlighted $2.45 as a key level. After the breakout, he stated that the move confirms institutional interest, referencing Canary Capital’s SUI spot ETF filing. He now projects a SUI price target between $3.80 and $4 in May, assuming current market strength holds.
What you'll learn 👉
Analysts Eye Higher Targets After Resistance Flip
Another analysis comes from veteran analyst Michaël van de Poppe, who shared a chart showing a breakout from a long-term downtrend. The chart shows SUI price climbing out of a base formation that held strong around the $1.70 level. Resistance between $2.25 and $2.30 has now been flipped into support.
Van de Poppe describes the breakout as a trigger to shift strategies, suggesting a buy-the-dip approach moving forward. He added that SUI is likely headed toward a new all-time high in the next quarter, with previous highs around $4.60 serving as a reference point for bullish projections.
Read Also: XRP Price to $33? This Chart Makes a Convincing Case
Great signs across the board, and I assume we'll see more movements like this.$SUI broke through the crucial resistance zone and that's your trigger to chance the gameplan.
— Michaël van de Poppe (@CryptoMichNL) April 23, 2025
Buy the dip method, that's what works. $SUI is likely running towards a new ATH in the coming quarter. pic.twitter.com/HVEbYD4Z8L
SUI Key Levels and What to Watch Next
The current setup places $2.25 as the immediate support zone to watch in case of a pullback. Any sustained move above $3.00 could open the door to testing higher levels mentioned by analysts. The RSI sits close to overbought territory, but trading volume confirms increasing interest.
With two analysts aligning on a bullish structure and the broader market showing strong momentum, SUI price performance heading into May will remain a key focus for traders.
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